• The chief purpose of a limited partnership is to enable persons to invest their money in a business without taking an active part in managing the business, and without risking more than the sum originally contributed, while securing the cooperation of others who have ability and integrity but insufficient money. — Abbr. L.P.
— Also termed special partnership; (in civil law) partnership in commendam. [Cases: Partnership 349–376. C.J.S. Partnership §§ 402–441.]